Fight Bankers' Plan to Steal Your Deposits!
12 August 2013—The Citizens
Electoral Council has blown the
cover off an international plot
to sneak Cyprus-style "bail-in"
legislation through the Australian
parliament, so that bankers
can steal money from your bank
account, to prop up banks proclaimed
"Too-Big-To-Fail". The
TBTF banks, also known as Systemically
Important Financial Institutions,
or SIFIs, include Australia's
"Big Four": CBA, ANZ,
Westpac, and NAB. This law will
open the door to the seizure of all
bank accounts—not just those
over $250,000—and their conversion
to near-worthless shares
in the banks thus "recapitalised",
as has already happened in Spain
and Cyprus.
Just do the maths: The Australian
government's Financial
Claims Scheme of $20 billion
per bank (which purports to protect
deposits of up to $250,000)
could not even begin to insure the
Big Four banks' eligible deposits
of close to $200 billion per bank.
Furthermore, Australian banks
hold $21 trillion of derivatives
contracts, many or even most of
which will turn into losses in the
financial meltdown. And Australia's
Big Four are so intertwined
with the $1.4 quadrillion global
derivatives market, centred in
the Global Systemically Important
Financial Institutions (G-SIFIs)
of London and Wall Street,
that Australian banks are now targeted
as part of the supranational
"bail-in" policy. The purpose
of the planned legislation is to allow
deposits to be seized from all
Australian bank accounts: from
individuals, churches and charitable
institutions, schools, hospitals,
trade unions, small and large
businesses, local councils, and
state governments alike.
The drive for bail-in, detailed
on pages 2 and 3 of this New Citizen,
is being led by the Swissbased
Bank for International Settlements
(BIS), the "central bank
of world central banks". The Financial
Stability Board (FSB),
headquartered at the BIS, is directing
the top levels of Australia's
Treasury, Reserve Bank, and
banking regulator APRA to draft
the bail-in legislation. Kevin
Rudd's first act as restored prime
minister was to name an FSB
member, senior Treasury official
Jim Murphy, as his chief of
staff. Meanwhile, the G20 group
of nations, which Australia will
chair as of 1 December 2013, has
publicly committed itself to implementing
the FSB's "Key Attributes
of Effective [Bank] Resolution
Regimes", prominent
among which is bail-in.
The BIS and FSB are in a pellmell
rush to consolidate a global
fascist dictatorship, centred
on the British Crown’s City of
London financial nexus. After
all, the Bank of England founded
the BIS in 1930, still dominates
it, and these two institutions
financed Hitler's regime in
the 1930s. The Crown is desperate
to consolidate its power as the
world plunges into the next phase
of financial crisis, which insiders
expect to erupt in the near future
and which will be far worse than
the 2007-08 Global Financial
Crisis (GFC) or even the Great
Depression of the 1930s. ...
Click here to continue reading (PDF, 1 MB).
Other contents:
Defeat the bail-in:
Pass Glass-Steagall to Bankrupt City of London, Wall Street (page 1)
The Evidence of a Bail-In Law Planned for Australia (page 2, PDF). Or click here to see the online version.
The Cyprus Template for Mass Murder (page 3)
The ABCs of "Bail-in": What you Must Know (page 3)
Vote 1 Citizens Electoral Council (page 4)
Click here to go to the CEC's 2013 election campaign website.
